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Investec Specialist Bank’s (‘Investec’) Fund Finance team has provided a EUR15 million loan to F&C European Capital Partners LP (F&C), a private equity fund of funds focusing on the European mid-market of private equity including buyout, mezzanine and co-investments.
The three year loan facility is provided to the F&C European Capital Partners LP fund, which closed in June 2008 with commitments of EUR173m from a variety of Dutch, German and British public pension funds and insurance companies as well as private clients.
Investec’s loan will enable F&C to introduce a moderate amount of gearing to this maturing fund
NVM Private Equity has announced that Northern 2 VCT PLC will be launching a Public Offer of new Ordinary Shares in early November 2011, with a target of raising up to GBP15 million (before expenses).
Tim Levett, NVM Chairman, says: “NVM is one of the top performing VCT fund managers over the past five years, a period in which market conditions have been difficult. The investment team has successfully added six new growing UK businesses to our portfolio over the past twelve months, investing a total of nearly GBP30 million. In August we announced the successful sale of our investment
Mourant Ozannes’ litigation partner and regulatory law expert, Beverley Lacey (pictured), recently chaired and addressed a packed audience at the Royal Yacht Hotel on important recent legislative developments of concern to company directors offshore.
The event attracted over 130 directors from the Island’s finance industry, with standing room only.
Leading experts Lesley Anderson QC and Edward Rowntree, barristers from insolvency chambers, Hardwicke, spoke on directors’ duties and the approach of the Secretary of State for Trade and Industry in the UK to disqualification. Beverley Lacey explained the disqualification regimes in Jersey, Guernsey and the Cayman Islands and the regulatory approach of
At a recent seminar held in London on the implications for private equity of AIFM and FATCA industry experts concluded that engagement with the process and preparation are key.
Joe Steer, of the BVCA, who is heavily involved in the consultation process with the European Commission and now with ESMA provided a high level overview of Level 1 which is now complete and passed into law. He went on to talk about the continuing challenges facing the industry in Level 2 as discussions move from a “political to a technical game”.
Steer said the main challenges are around the
The AIM-quoted investment group China Private Equity Holdings Ltd (CPE) has announced a 31% increase in net asset value during the six months to 30 June 2011, following its successful acquisition during the period of a 30% stake in the online financial services group Enfinium.
The company also said in its results statement it continues to anticipate a Hong Kong float within the next six months for its key portfolio asset, Fortel, a digital media and technology services company operating in China. CPE holds 33.6% of Fortel, valued during the period at USD72 million.
The first half also saw the
Mark Kelly, Special Situations Sector Strategist at Olivetree Securities on SABMiller’s agreement to buy Australian beer group Foster’s for AUD6.53bn…
The conclusion of this negotiation has come a lot quicker than most were expecting. Up until now there was a real standoff between the two companies. SAB had previously offered AUD4.90bn, so the new offer is a 10% premium to the original approach. It has been relatively clear over the last few months that Fosters’ defence team had been (unsuccessfully) looking for white knights with Modelo the strongest possibility. A recommendation of this new SAB offer at a modest premium
The Australian Private Equity and Venture Capital Association (AVCAL) has announced the winners of a series of awards that recognise outstanding performance in the private equity industry.
AVCAL CEO Dr Katherine Woodthorpe said
A panel of industry experts assessed nominations across the award categories and found many examples of innovation, growth, and excellent returns on investment, the beneficiaries of which generally are local and overseas superannuation and pension fund members.
“It’s important to take stock as an industry and to recognise and reward performance,” says AVCAL CEO Dr Woodthorpe. “Despite volatility in global markets in recent times, Australian private
Private equity firm The Gores Group, through an affiliate, has signed an agreement to acquire Alpheus Communications, one of the largest fibre network and data centre operators in Texas.
he Gores Group intends to combine Alpheus with First Communications, an existing Gores portfolio company. Genesis Park, LP and El Paso Corporation are the sellers. Terms of the transaction were not disclosed.
Alpheus Communications has a strong presence in Dallas/Fort Worth, Houston, Austin and San Antonio — four of the fastest growing markets in the United States. The acquisition includes more than 2,800 route miles of long-haul fibre and nearly 3,250
Private investment firm First Reserve Corporation has made an investment in Amromco Energy, the largest and leading independent oil and gas producer in Romania. The investment is the first stage in First Reserve’s plans to build an oil and gas platform in the Central and Eastern European region.
Amromco is the third largest gas producer in Romania, after Romgaz and Petrom, and is focused on the acquisition of upstream oil and gas projects in emerging markets and their subsequent enhancement through the application of state of the art extraction technologies.
Founded in 2002, Amromco is an established business
SPA Future Thinking has acquired full-service market research consultancy Essential Research for an undisclosed sum.
Essential is a specialist in the media, communications, technology and entertainment sectors with a client portfolio that includes the BBC, Microsoft and O2. It offers a range of qualitative, quantitative and hybrid research methodologies to its clients.
The consultancy retains its own identity and continues to service its clients out of established offices in the New Kings Road. It is headed up by Luca Antilli, an Essential founding partner, who has taken the role of managing director. Antilli leads a team of 14 whilst
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